# # ||||Page| |---|---|---|---| |Chairman's|statement||| |Trustees report|||2-16| |Statement|oftrustees|responsibilities|17| |Independent|auditor's|report|18-21| |Statement|offinancial|activities|22| |Balance sheet|||23-24| |Statement|ofcash flows||25| |Notes to the financial||statements|26-44| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |The|impact|ofthe pandemic|ofthe pandemic|ofthe pandemic|has not negatively|impacted
on the|organisation|organisation|and the ability to work|towards| |---|---|---|---|---|---|---|---|---|---|---| |and|meet|organisational|aims and aspirations.|||To be noted,
that this was|||a result of a significant|eifort on| |behalf of all staff, supported||||by the Trustee Board||||||| |Reference||and administrative|||details|||||| |Charity name||||||Early Years Wales 2018T/A|||Early Years Wales|| |Charity number||||||1056381||||| |Company||number||||3164233||||| |Principal and registered||||office||Coopers Yard||||| |||||||Curran
Road||||| |||||||Cardilf||||| |||||||CF10SNB||||| |Trustees||||||Dr David Dallimore||||| |||||||Lisa Owen||||| |||||||Jamie Powell||||| |||||||Dr Mirain Rhys||||| |||||||Mike Thorne (Chair)||||| |||||||Victoria Wdght - appointed||22/4/21||| |||||||Rejwan Ahmed|-resigned|1/1/22||| |||||||Dr Mark Grifliths|- resigned||1/1/22|| |||||||Laura Grimths -|resigned|1/1/22||| |Secretary||||||David Goodger||||| |Auditors||||||Azets Audit Services||||| |||||||Ty Derw||||| |||||||Lime Tree Court||||| |||||||Cardiff Gate Business Park||||| |||||||Cardiff||||| |||||||CF23 8AB||||| |Bankers||||||Barclays Bank||||| |||||||51 Hope Street,||||| |||||||Wrexham||||| |||||||LL11 1BE||||| |Investment||providers||||CCLA||||| |||||||Senator House||||| |||||||85Queen Victoria Street||||| |||||||London||||| |||||||EC4V 4ET||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---|---| |||||funds|funds||funds|funds|| |||Notes||2022
8|2022
6|2022
6|2021
6|2021f|2021
6| |Income and endowments|||from:||||||| |Donations and legacies||||300|9,964|10,264|20,634||20,634| |Charitable
activities||||8,431|1,116,671|1,125,102|37,730|1,155,473|1,193,203| |Investments||||15,932||15,932|17,581||17,581| |Other income||||2,851||2,851|||| |Total income||||27,514|1,126,635|1,154,149|75,945|1,155,473|1,231,418| |Ezagtttlitttr~tt;|||||||||| |Charitable
activities||||126,460|1,053,958|1,180,418||1,109,267|1,109,267| |Net gains/(losses)||on|||||||| |investments|||11|1,594||1,594|160,011||160,011| |Net (outgoing)/|||||||||| |incoming
resources|||||||||| |before transfers||||(97,352)|72,677|(24,675)|235,956|46,206|282,162| |Gross transfers|||||||||| |between
funds||||60,180|(60,180)||66,846|(66,846)|| |Net movement|in|funds||(37,172)|12,497|(24,675)|302,802|(20,640)|282,162| |Fund balances at 1|||||||||| |April 2021||||1,421,275|44,787|1,466,062|1,118,473|65,427|1,183,900| |Fund balances|at|31|||||||| |March 2022||||1,384,103|57,284|1,441,387|1,421,275|44,787|1,466,062| ## ## |||||2022||2021|| |---|---|---|---|---|---|---|---| ||||Notes|6||R|| |Fixed assets|||||||| |Intangible|assets||16||31,350||19,800| |Tangible assets|||17||3,299||2,361| |Investments|||18||1,113,401||1,111,807| ||||||1,148,050||1,133,968| |Current assets|||||||| |Debtors|||20|48,304||19,312|| |Cash at bank and in||hand||295,566||363,630|| |||||343,870||382,942|| |Creditors:|amounts|falling due within|||||| |one year|||21|(50,533)||(50,848)|| |Net current|assets||||293,337||332,094| |Total assets less current liabilities|||||1,441,387||1,466,062| |Income funds|||||||| |Restricted|funds||23||57,284||44,787| |Unrestricted|funds||||||| |Designated|funds||24|238,040||219,522|| |General unrestricted||funds||1,146,063||1,201,753|| ||||||1,384,103||1,421,275| ||||||1,441,387||1,466,062| ## ## ## ## ||||||2022||2021|| |---|---|---|---|---|---|---|---|---| |||||Notes|6||K|| |Cash flows from operating||activities||||||| |Cash (absorbed
by)/generated|||from|28||||| |operations||||||(64,676)||174,340| |Investing|activities|||||||| |Purchase|ofintangible
assets||||(16,500)|||| |Purchase|oftangible fixed assets||||(2,820)|||| |Purchase|of investments||||(1,164,464)||(90,955)|| |Proceeds|on disposal of investments||||1,164,464||75,241|| |Investment|income received||||15,932||17,581|| |Net cash|(used in)/generated||from|||||| |investing|activities|||||(3,388)||1,867| |Net cash|used in financing|activities||||||| |Net (decrease)/increase
in||cash and||cash||||| |equivalents||||||(68,064)||176,207| |Cash and|cash equivalents|at|beginning|ofyear||363,630||187,423| |Cash and|cash equivalents||at end of|year||295,566||363,630| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2022f|2021f| |---|---|---|---|---|---|---| |Membership|||||40|35,078| |Grants|||||1,116,671|1,155,473| |Quality|assurance||||2,949|187| |Sale of|publications||and promotional|items|5,442|2,465| ||||||1,125,102|1,193,203| |Analysis|by|fund||||| |Unrestricted||funds|||8,431|37,730| |Restricted funds|||||1,116,671|1,155,473| ||||||1,125,102|1,193,203| ## ||||||2022|2021| |---|---|---|---|---|---|---| |||||||0| |Welsh Government
- CWLWM|||||572,708|647,968| |Welsh Government
- DCELLS: Early|Yrs|Co-Drdinator|||54,250|52,000| |Welsh Government
-Welsh Language|Department||||50,000|50,000| |Carmarthenshire
County Council - Children's|||Services||13,187|10,697| |Ceredigion
County Council - Family Information||||Service|4,472|4,500| |Conwy County Borough Council - Education|||Services||20,300|| |Denbighshire
County Council - Flying|Start||||8,093|8,093| |Flintshire
County Council|||||58,651|56,086| |Isle ofAnglesey
County Council|||||8,750|10,840| |Monmouthshire
County Council|||||6,000|6,000| |Newport
City Council - RSG|||||208,000|92,500| |Swansea
City Council - Early Intervention||Service|||12,527|12,527| |Welsh Active Early Years Project|||||85,758|166,937| |Moondance
Foundation|||||10,000|30,000| |Mudidad
Meithrin||||||7,325| ||||||1,112,696|1,148,148| ## ## |Unrestricted|Unrestricted| |---|---| |funds|funds| |2022f|2021
f| |15,932|17,581| ## |Unrestricted|Total| |---|---| |funds|| |2022f|2021f| |2,851|| ## ||||2022|2021| |---|---|---|---|---| ||||6|6| |Staff costs|||679,727|677,578| |Depreciation|and impairment||736|6,443| |Computer,
internet costs and telephone|||28,995|57,175| |Insurance|||158|9,097| |Other costs|||774|2,539| |Other staff costs|||92,393|32,689| |Events|||22,226|13,164| |Printing,
post|and stationery||34,997|39,890| |Professional|fees||18,328|11,226| |Publications,|training|and subscriptions|36,315|50,230| |Quality assurance|||805|3,816| |Premises costs|||70,217|65,565| |Travel and subsistence|||10,943|1,488| ||||996,614|970,900| |Grant funding|of activities (see note 10)||100,167|73,651| |Share ofsupport costs (see note 9)|||73,634|55,413| |Share ofgovernance||costs (see note 9)|10,003|9,303| ||||1,180,418|1,109,267| |Analysis
by|fund|||| |Unrestricted|funds||126,460|| |Restricted funds|||1,053,958|1,109,267| ||||1,180,418|1,109,267| ## |9|Support costs||||||| |---|---|---|---|---|---|---|---| |||Support|Governance|2022|Support|Governance|2021| |||costs
8|costs
8||costs|costsf|f| ||Staff costs|20,620||20,620|25,454||25,454| ||Depreciation|6,096||6,096|2,092||2,092| ||Bank and other charges|1,038||1,038|1,100||1,100| ||ITand telephone|9,405||9,405|9,102||9,102| ||Premises costs|1,195||1,195|58||58| ||Insurance|11,572||11,572|||| ||Professional fees|3,049||3,049|2,998||2,998| ||Publications,
training||||||| ||and subscriptions|662||662|477||477| ||Travel and subsistence|49||49|93||93| ||Other staff costs|3,797||3,797|3,224||3,224| ||Printing,
post and||||||| ||stationery|16,151||16,151|10,815||10,815| ||Audit fees||9,330|9,330||9,240|9,240| ||Meeting costs||673|673||63|63| |||73,634|10,003|83,637|55,413|9,303|64,716| ||Analysed
between||||||| ||Charitable
activities|73,634|10,003|83,637|55,413|9,303|64,716| |10|Grants payable||||||| |||||||2022|2021| |||||||6|| ||South East Wales|||||48,221|39,843| ||Moondance
Foundation|||||10,000|30,000| ||COVID-19small grants||||||3,808| ||Early Years Wales small grants|||||41,946|| |||||||100,167|73,651| ## ## ## ||||Unrestricted|Unrestricted| |---|---|---|---|---| ||||funds|funds| ||||2022|2021| ||||K|| |Revaluation|of|investments|1,594|160,011| ## ## |
The average|
monthly
number ofemployees
during t|he year was:|| |---|---|---|---| |||2022|2021| |||Number|Number| |Functional||19|20| |Support||10|11| |||29|31| |Employment|costs|2022|2021| |||6|6| |Wages and salaries||627,233|631,178| |Social security costs||48,050|47,146| |Other pension costs||25,064|24,708| |||700,347|703,032| ## ## ## ## |Intangible
fi|xed assets|| |---|---|---| |||Webeite| |Cost||| |At 1 April 2021||24,750| |Additions||16,500| |At 31 March|2022|41,250| |Amortisation|and impairment|| |At 1 April 2021||4,950| |Amortisation|charged for the year|4,950| |At 31 March|2022|9,900| |Carrying
amount||| |At 31 March|2022|31,350| |At 31 March|2021|19,800| ## ## |17|Tangible fixed assets|Tangible fixed assets|||||| |---|---|---|---|---|---|---|---| ||||||Office|Computer|Total| ||||||equlpmeut|equipment|| ||||||6||| ||Cost||||||| ||At 1 April 2021||||80,590|18,954|99,544| ||Additions||||2,820||2,820| ||At 31 March|2022|||83,410|18,954|102,364| ||Depreciation|and impairment|||||| ||At 1April 2021||||80,590|16,593|97,183| ||Depreciation|charged|in the year|||1,882|1,882| ||At 31 March|2022|||80,590|18,475|99,065| ||Carrying
amount||||||| ||At 31 March|2022|||2,820|479|3,299| ||At 31 March|2021||||2,361|2,361| |18|Fixed asset|investments|||||| ||||||||Listed| ||||||||investments| ||||||||8| ||Cost or valuation||||||| ||At 1 April 2021||||||1,111,807| ||Additions||||||1,164,464| ||Valuation changes||||||1,594| ||Disposals||||||(1,164,464)| ||At 31 March|2022|||||1,113,401| ||Carrying
amount||||||| ||At 31 March|2022|||||1,113,401| ||At 31 March|2021|||||1,111,807| |19|Financial
instruments|||||2022|2021| |||||||8|6| ||Carrying
amount offinancial assets||||||| ||Instruments|measured|at fair value through|profit or loss||1,113,401|1,111,807| ## ## ## |Debtors||||||||| |---|---|---|---|---|---|---|---|---| |Amounts
falling|due|within||one year:|||2022f|2021f| |Trade debtors|||||||25,109|4,836| |Prepayments
and|accrued income||||||23,195|14,476| ||||||||48,304|19,312| |Creditors: amounts||falling||due within one year||||| |||||||Notes|2022f|2021f| |Deferred
income||||||22|21,974|26,654| |Trade creditors|||||||17,579|15,706| |Other creditors|||||||1,445|264| |Accruals and deferred||income|||||9,535|8,224| ||||||||50,533|50,848| |Deferred income||||||||| ||||||||2022f|2021
f.| |Arising from government|||grants||||21,504|26,504| |Arising from membership|||income||||470|150| ||||||||21,974|26,654| |Deferred income|is included|||in the financial statements|as follows:|||| ||||||||2022f|2021f| |Balance brought|forward||||||26,654|25,788| |Income received|||||||21,974|36,010| |Income released|||||||(26,654)|(35,144)| |Balance carried forward|||||||21,974|26,654| ## ||||||||IC|IV
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6|2021f| |---|---|---|---|---|---|---| ||Within one year||||36,835|40,080| ||Between two and five years||||760|40,840| ||||||37,595|80,920| |28|Cash generated
from operations||||2022f|2021| ||(Deficit)/surpus
for the year||||(24,675)|282,162| ||Adjustments
for:|||||| ||Investment
income recognised|in statement||offinancial activities|(15,932)|(17,581)| ||Fair value gains and losses on|investments|||(1,594)|(160,011)| ||Depreciation
and impairment
oftangible||fixed assets||6,832|8,535| ||Movements
in working
capital:|||||| ||(Increase)/decrease
in debtors||||(28,992)|79,727| ||Increase/(decrease)
in creditors||||4,365|(19,358)| ||(Decrease)/increase
in deferred|income|||(4,680)|866| ||Cash (abaorbed
by)/generated|from operations|||(64,676)|174,340| |29|Analysis ofchanges
in net funds||||||